Economy of Thailand to not go back to normal before 2022

2020-07-15 02:10:20

(MENAFN)

The central bank of Thailand said on Tuesday during a press briefing that the economic activities of Thailand are not expected to go back to normal levels before the coronavirus outbreak.

Bank of Thailand (BoT) Governor Veerathai Santiprabhob said that the economic activity will not go back to normal levels until 2022, adding that "the BoT cannot offer the record-low policy interest rate of 0.50 percent to zero percent".

The central bank of the country has predicted earlier that the economy will drop 8.1 percent more for the current year as the number of foreign tourists will decline 80% percent as the coronavirus outbreak negatively impacted the international demand and travel.

The official added that "however, the Thai economy should gradually recover after hitting the bottom in the second quarter".

Adding "but the Thai government should be able to handle the impact on the Thai economy", and that "there is no need for strong measures yet".

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